Global Port Security Spend Boosted by Port Upgrades and New Terminal Developments

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Technology deployment driven by persistent threats, finds Frost & Sullivan's Security team

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Nov 07, 2017, 08:07 ET

LONDON, Nov. 7, 2017 /PRNewswire/ -- With 90 per cent of global trade being carried out by the shipping industry, port security is of paramount importance. As vessel traffic continues to increase, the infrastructure will need to be developed. While a number of ports are in the process of digitising their operations to drive efficiencies and expand capacity, new ports, port upgrades, and new terminal developments will be the major drivers of security spending.

Frost & Sullivan's research, Global Port Security Market, Forecast to 2023, analyses market trends, drivers, restraints and key technologies globally. Regional trends, including key projects and investments, are also discussed. The study focuses on the land-side security of ports including surveillance, perimeter security, command and control, cybersecurity, screening and detection.

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"Persisting threats concerning the illegal movement of individuals, weapons, drugs, and other illicit materials are driving ongoing efforts to enhance port security technology deployments," said Frost & Sullivan Security Analyst Rakesh Vishwanath. "New technologies and solutions, including unmanned aerial vehicles, are gaining traction with ongoing pilots and use cases."

Strategic imperatives for success in the evolving port security market include:

The development of innovative cyber-resilient technologies that proactively counter constantly evolving cyber threats;
Developing strategic partnerships with niche cyber-security suppliers;
Positioning cybersecurity at the core of an offering to address growing challenges in an increased threat landscape; and
Developing solutions that are easy to understand with actionable intelligence and seamless integration with existing architecture.

"The 'digital port' will be a critical issue by 2023. Demand for cyber solutions that better protect networks will grow," noted Vishwanath. "Software requirements for screening equipment and integration of this into the overall port security environment will increase across regions as well."

Global Port Security Market, Forecast to 2023 is part of Frost & Sullivan's Security subscription program.

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Global Port Security Market, Forecast to 2023
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